I purchased a freehold residence in Tywyn but still invoiced for rent, why is this and what is this?

It’s unusual for properties in Tywyn and has limited impact for conveyancing in Tywyn but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.

A relative recommended that if I am buying in Tywyn I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is usually included in the estimate for your Tywyn conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Tywyn around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Tywyn Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Tywyn Education with plans and statistics, Local Amenities and other useful data concerning Tywyn.

I purchased a terraced Victorian house in Tywyn. Conveyancing practitioner represented me and . I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold under the matching address. I'd like to know for sure, how can I find out??

You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tywyn and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who conducted the conveyancing.

I'm purchasing my first flat in Tywyn with the aid of help to buy. The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not inform my solicitor about this side-deal as it will put at risk my loan with . Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I bought a leasehold flat in Tywyn, conveyancing formalities finalised in 1995. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Tywyn with an extended lease are worth £165,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ends on 21st October 50

You have 50 years left to run the likely cost is going to be between £36,100 and £41,800 as well as legals.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.